San Jose-based Extreme Networks, an ethernet networking technology company, is buying computer networking company Enterasys Networks for $180 million.
The companies anticipate that Extreme Networks' operating system, ExtremeXOS, will fully support both hardware platforms in about two years.
Both companies' boards approved the transaction. The deal is expected to close in the fourth quarter.
Privately held Enterasys is a spinoff company from Cabletron Systems, a company founded by former New Hampshire Gov. Craig Benson. It is based in Salem, N.H., and has approximately 900 employees. The company's annual revenue is $330 million.
Extreme Networks’ stock gained 42 cents, or 10.4 percent, to $4.45 in premarket trading on Thursday.
Copyright AP - Associated Press
